Avid Bioservices Inc (CDMO)

[senrex]

Should get a bounce soon:

(1) Share price closed below its RSI 5 and RSI 14 lower Bollinger Bands;

(2) Slight bullish divergence on a TA indicator that I follow on the Weekly chart and have found fairly reliable.

BUT, long term -- simply looking at the charts -- nothing looks good. For those who deny that TA can be useful for small cap companies, a quick reminder:

"Given where the market's heading, there are people who still own this company and who want out before a dive that will shock many here (I think we're both looking at the same potential chart pattern that's been building since October of last year)." (September 22, 2011)

"The PPHM chart just broke through (to the downside) a Descending Triangle that dates back to the end of 2008...Unfortunately, if we have the market tank which I believe still awaits us, I cannot see how PPHM escapes a final slaughter of the share price." (September 29, 2011) PPHM closed at $1.09 that day. We're 22% lower today.

The inexperienced Board has been unable to do anything but dilute the retail shareholder -- despite the pipeline, patents, Avid, etc. Either they have something (and they KNOW they have it and therefore are not even making an attempt at communication) or.... (fill in the blank).